Name: Why the US Should Default
Uploaded: 2022-07-08T22:00:09+00:00
Duration: 48 min 1 s
Description: Jeff and Bob discuss the effect of rising interest rates on Uncle Sam's ability to service debt—and promote the increasingly less radical idea that a default on Treasury debt is both inevitable and go

3 years ago

Jeff and Bob discuss the effect of rising interest rates on Uncle Sam's ability to service debt—and promote the increasingly less radical idea that a default on Treasury debt is both inevitable and good.

Jeff's article on rising rates: https://Mises.org/HAP351-1
House Budget Committee report on higher interest rates and US debt service: https://Mises.org/HAP351-2
Rothbard on the ethics of debt repudiation: https://Mises.org/HAP351-3

00:00 Introduction
03:06 The 14th Amendment: Is the Debt Legal?
06:58 Repudiating the National Debt
16:07 Cancelling the Intragovernmental Debt
18:41 Defaulting on the Public Debt
25:52 Paying Entitlements
32:50 What a Default Would Look Like
39:57 Modern Monetary Theory (MMT)